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NextEra Energy assessed as having best-in-class preparedness, according to S&P Global Ratings' methodology for environmental, social and governance factors
Company announces new goal to reduce carbon dioxide emissions rate by 67%
JUNO BEACH, Fla., June 17, 2019 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced that it has received a best-in-class preparedness assessment in S&P Global Ratings' Environmental, Social and Governance (ESG) Evaluation. NextEra Energy's final ESG Evaluation score, 86, is expected to be one of the highest rankings to be given by S&P Global Ratings to any corporate entity within the sector. The best-in-class preparedness assessment, which is anticipated to be applied by S&P Global Ratings only in rare circumstances, reflects NextEra Energy's ability to identify long-term risks and develop and implement plans to mitigate these challenges into new opportunities, distinguishing the company from its peers amid the disruptive forces facing the industry. S&P Global Ratings assessed NextEra Energy's preparedness for all of the company's ESG factors as either good, strong or leading, the top three possible scores. The report specifically highlights NextEra Energy's clean generation profile, code and values, strong safety management program, and leading customer engagement driven by low bills, high reliability and outstanding customer service.
The ESG Evaluation by S&P Global Ratings is a cross-sector, relative analysis of a company's ability to operate successfully both now and in the future. The resulting scores reflect an organization's sustainability efforts and can help investors better understand the company's strategy, purpose and management quality, especially in the increasingly important areas of environmental, social and governance.
"We are pleased to be recognized for our leading ESG efforts by S&P Global Ratings," said Jim Robo, NextEra Energy chairman and CEO. "We are deeply committed to doing well by doing good, and that means respecting our environment, providing value for our customers, sustaining our communities, focusing on continuous improvement and innovation, investing in our team and growing shareholder value. Today, we are furthering our commitment to the environment with the announcement of a new goal to continue reducing our carbon dioxide emissions. This goal underscores our deep commitment to environmental protection and stewardship, one of the key areas of our company's sustainability efforts. At NextEra Energy, we firmly believe that we have an unprecedented opportunity to shape how energy is produced and delivered. By investing in smart infrastructure and innovative clean energy solutions, we're helping build a sustainable energy future that is affordable, efficient and clean, while at the same time creating tens of thousands of jobs and generating economic benefits for the communities we serve."
This recognition from S&P Global Ratings comes in concurrence with NextEra Energy's announcement of a new emissions reduction goal. For decades, NextEra Energy has been reducing emissions through the development of renewable energy and modernization of its generation fleet. The company's new goal is to reduce its carbon dioxide (CO2) emissions rate by 67% by 2025, from a 2005 baseline. This equates to a nearly 40% reduction in absolute CO2 emissions, despite the company's total expected electricity production almost doubling over that time. To put this into perspective, if all of the nation's utilities were able to achieve NextEra Energy's projected 2025 emissions rate, absolute CO2 emissions for the power sector would be approximately 75% lower than they were in 2005. NextEra Energy expects to periodically update its CO2 emissions goal as it continues to execute on its strategy of being a leading clean energy infrastructure company.
NextEra Energy also has published its annual sustainability report, which is now available on NextEraEnergy.com/Sustainability. The report includes performance-based data regarding NextEra Energy's environmental and social activities in 2018, as well as highlights the company's leadership in renewable energy and battery storage, significant investments in infrastructure, reduction in greenhouse gas emissions, commitment to community, customer and employee support, and focus on innovation and continuous improvement.
The annual sustainability report includes metrics and stories in the following categories:
To learn more about NextEra Energy's commitment to sustainability and to view the entire sustainability report, visit NextEraEnergy.com/Sustainability.
This recent honor from S&P Global Ratings is the latest recognition for NextEra Energy. Earlier this year, NextEra Energy was named No. 1 in its sector on Fortune's list of "Most Admired Companies" for the 12th time in 13 years and, in 2018, was ranked by Fortune among the top 25 companies that "Change the World." NextEra Energy was also named by Forbes in 2019 as one of America's Best Employers, as well as recognized for the 12th time by Ethisphere Institute as one of its World's Most Ethical Companies, becoming one of only 14 current honorees in the world to achieve this prestigious honor 12 or more times.
NextEra Energy, Inc.
SOURCE NextEra Energy, Inc.
For further information: NextEra Energy, Inc., Media Line: 561-694-4442